New Visual Entertainment Enhances Board of Directors With Appointments of Ivan Berkowitz and Bruce Brown
SAN DIEGO, Aug 7, 2000 (BUSINESS WIRE) --
Current Director John Howell Named Executive Vice President
New Visual Entertainment, Inc. (OTCBB: NVEI chart, msgs), a pioneer in the development of proprietary transmission technology focused on delivering the ultimate "last mile" solution, today announced that it has appointed Mr. Ivan Berkowitz and Mr. Bruce Brown to its Board of Directors. In addition, Mr. John Howell, who currently serves as a Director of the Company, has been named Executive Vice President, where he will be primarily responsible for overseeing critical operational issues associated with the ongoing development of the Company's patent-pending broadband transmission technology.
Ray Willenberg, Jr., Chief Executive Officer of New Visual, stated, "With independent third party evaluation of our `last mile' solution scheduled for September, numerous companies and financial institutions have begun attempting to initiate dialogue with management to establish the foundation for proposed strategic joint ventures, suggested market deployment initiatives, and corporate financing requirements, among several other agendas. We felt that timing was right to begin enhancing our Board with proven business people who have the necessary expertise to evaluate these opportunities and counsel management accordingly. On behalf of New Visual's management, I am pleased to welcome Ivan and Bruce to our team. We look forward to working closely with them to ensure that the full potential of our technology is maximized, that the interests of our shareholders are protected, and that the promising future of New Visual Entertainment is realized."
About Ivan Berkowitz
During his 30-year career as an investment banker, Mr. Berkowitz has advised multinational corporations on corporate structure, mergers and international syndication. He has also served on the Board of Directors of several public and private companies operating in the high technology, retail, financial, real estate, marketing, manufacturing and industrial sectors. Currently, he is a Director of the following public companies: Migdalei Shekel (Tel Aviv); Propierre (Paris); HMG Worldwide (Nasdaq/NMS: HMGC chart, msgs); PolyVision Corporation (AMEX: PLI chart, msgs); Spin Rocket, Inc. (OTCBB: SRKT chart, msgs); and NetCurrents, Inc. (Nasdaq: NTCS chart, msgs). He also serves as the Chairman of the Advisory Board of THCG, Inc. (Nasdaq/NMS: THCG chart, msgs), a publicly-traded investment banking firm.
Since 1993, Mr. Berkowitz has served as Managing General Partner of Steib & Company, a privately-held New York based investment company. Additionally, since 1989, Mr. Berkowitz has served as President of Great Court Holdings, also a privately held New York-based investment company. Between 1995 and 1997, Mr. Berkowitz led PolyVision Corporation as its Chief Executive Officer. Mr. Berkowitz has also been involved as a general partner in ventures engaged in the development and purchase of hotels, subsidized housing, retirement centers, condominiums, office buildings and shopping centers.
Mr. Berkowitz holds a BA (cum laude) from Brooklyn College, an MBA in Finance with Honors from Baruch College, City University of New York, and a PhD in International Law from Cambridge University, England. He has lectured at Brooklyn College, Cambridge University, Whittier College School of Law, Young Presidents Organization, and the New York Society of Security Analysts, and is a published writer having made contributions to the Cambridge Law Journal, Mergers and Acquisitions, Medical Dimensions, Juris Doctor and the Los Angeles Times. Mr. Berkowitz is a life member of the Cambridge Union and a board member of numerous educational institutions and charities, including Cambridge University.
About Bruce Brown
Nominated for an Academy Award in 1971 for directing "On Any Given Sunday," a motorcycle adventure film starring Steve McQueen, Bruce Brown has since earned worldwide distinction as the director and producer of the first-of-its-kind documentary film, "Endless Summer", the second highest grossing documentary film of all time. Mr. Brown's follow-on success, "Endless Summer 2" grossed more than $10 million in its first year of theatrical distribution. In association with New Visual Entertainment, Mr. Brown has begun filming a new surfing adventure film for mainstream theatrical release. The film will feature the ambitious pursuit of global storm systems by some of the world's most traveled professional surfing athletes. Other classic films produced and directed by Mr. Brown include "Slippery When Wet," "Surfin' Shorts," "Surf Crazy," "Surfin Hollow Days," "Barefoot Adventure" and "Waterlogged."
About John Howell
John Howell has served as a Director of New Visual Entertainment since April 2000. He brings to the Company a wealth of experience in executive management of high technology and emerging growth companies and has an intimate understanding of the development protocols associated with the testing and validation of new technologies. Prior to his retirement in October 1998, Mr. Howell served several companies in various senior executive positions including TeraGLOBAL Communications Corp., a manufacturer of hardware for the convergence of voice, video, and data; EVERSYS Corporation, a manufacturer of computer equipment, and Polar Bear Station No. 1, Inc. d/b/a/ Paradise Sport Fishing, an owner and operator of sport fishing boats. Mr. Howell has a B.S. in Aerospace Engineering from Oregon State University.
About New Visual Entertainment, Inc.
New Visual is pioneering the development of a proprietary broadband transmission technology with the mission to utilize existing copper telecommunications infrastructure to deliver high data content to the home or office at VDSL (52Mbps) data transfer rates. Through its New Wheel Technology, Inc. subsidiary, New Visual is developing this technology, which would allow the bundling of voice, video and data over existing copper telephone wires, eliminating the need for fiber optic cable to the home or office. Its initial development efforts are focusing on "Very High rate Digital Subscriber Line" (VDSL), and have demonstrated results exceeding industry standards. New Visual has historically been a true stereoscopic 3-D production company. Through it's Impact Multimedia, Inc. subsidiary, New Visual develops web animation, streaming media, multimedia production and CD-ROM business cards. New Visual's common stock is traded on the Over-The-Counter Bulletin Board under the symbol NVEI.
With the exception of historical information contained in this release, this release includes forward-looking statements made under the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: product development difficulties; market demand and acceptance of products; the impact of changing economic conditions; business conditions in the internet, computer, and 3D film and video industries; reliance on third parties including potential suppliers, licensors and licensees; the impact of competitors and their products; risks concerning future technology; and other factors detailed in this release and in the Company's Securities and Exchange Commission filings.
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Contact:
Continental Capital & Equity Corp., Longwood, Fla.
Dodi B. Handy, 407/682-2001
dodi@insidewallstreet.com |
